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Chassiakos, A P and Sakellaropoulos, S P (2005) Time-Cost Optimization of Construction Projects with Generalized Activity Constraints. Journal of Construction Engineering and Management, 131(10), 1115–24.

  • Type: Journal Article
  • Keywords: Project management; Scheduling; Computer programming; Optimization; Construction costs; Time factors; Constraints;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)0733-9364(2005)131:10(1115)
  • Abstract:
    Time-cost analysis is an important element of project scheduling, especially for lengthy and costly construction projects, as it evaluates alternative schedules and establishes an optimum one considering any project completion deadline. Existing methods for time-cost analysis have not adequately considered typical activity and project characteristics, such as generalized precedence relationships between activities, external time constraints, activity planning constraints, and bonuses/penalties for early/delayed project completion that would provide a more realistic representation of actual construction projects. The present work aims to incorporate such characteristics in the analysis and has developed two solution methods, an exact and an approximate one. The exact method utilizes a linear/integer programming model to provide the optimal project time-cost curve and the minimum cost schedule considering all activity time-cost alternatives together. The approximate method performs a progressive project length reduction providing a near-optimal project time-cost curve but it is faster than the exact method as it examines only certain activities at each stage. In addition, it can be easily incorporated in project scheduling software. Evaluation results indicate that both methods can effectively simulate the structure of construction projects, and their application is expected to provide time and cost savings.

Eldin, N N and Mayfield, J (2005) Determination of Most Economical Scrapers Fleet. Journal of Construction Engineering and Management, 131(10), 1109–14.

Kale, S and Arditi, D (2005) Diffusion of Computer Aided Design Technology in Architectural Design Practice. Journal of Construction Engineering and Management, 131(10), 1135–41.

Kumaraswamy, M M, Ling, F Y, Rahman, M M and Phng, S T (2005) Constructing Relationally Integrated Teams. Journal of Construction Engineering and Management, 131(10), 1076–86.

Kumaraswamy, M M, Rahman, M M, Ling, F Y and Phng, S T (2005) Reconstructing Cultures for Relational Contracting. Journal of Construction Engineering and Management, 131(10), 1065–75.

Mbabazi, A, Hegazy, T and Saccomanno, F (2005) Modified But-For Method for Delay Analysis. Journal of Construction Engineering and Management, 131(10), 1142–4.

Mohamed, Y and AbouRizk, S (2005) Application of the Theory of Inventive Problem Solving in Tunnel Construction. Journal of Construction Engineering and Management, 131(10), 1099–108.

Rahman, M M and Kumaraswamy, M M (2005) Relational Selection for Collaborative Working Arrangements. Journal of Construction Engineering and Management, 131(10), 1087–98.

Weinstein, M, Gambatese, J and Hecker, S (2005) Can Design Improve Construction Safety?: Assessing the Impact of a Collaborative Safety-in-Design Process. Journal of Construction Engineering and Management, 131(10), 1125–34.

Wong, P S, Cheung, S O and Ho, P K (2005) Contractor as Trust Initiator in Construction Partnering—Prisoner’s Dilemma Perspective. Journal of Construction Engineering and Management, 131(10), 1045–53.

Zhang, X (2005) Concessionaire’s Financial Capability in Developing Build-Operate-Transfer Type Infrastructure Projects. Journal of Construction Engineering and Management, 131(10), 1054–64.